Ripple CEO Brad Garlinghouse explained the status of Ripple (XRP) and Ethereum (ETH) in the eyes of regulators. Amid intense legal meetings between Ripple and the U.S. Securities and Exchange Commission (SEC), Garlinghouse's comments carry a lot of weight, especially as the company nears the launch of its stablecoin.
Ripple CEO Brad Garlinghouse: XRP is not a security...and a stable currency is coming
He stated Garlinghouse, in conversation with Michael Arrington of Arrington Capital, said no. Ripple (XRP) Neither Ethereum (ETH) nor Ethereum are securities. This confirmation is crucial as Ripple prepares to introduce a stablecoin, underscoring its position in a complex regulatory environment.
“Anyone who thinks Ripple isn’t 100% behind XRP doesn’t understand. We are fully committed and will remain so.”
The debate regarding the classification of digital assets such as Ripple and Ethereum has undergone various developments. Notably, a court ruling issued in July 2023 partially exempted Ripple by stating that XRP was not a security. However, he noted that some institutional sales of XRP were sales of unregistered securities.
Read more: How to buy XRP currency the easiest way? Is it worth buying?
Meanwhile, Ethereum faces its challenges. Consensys raised He recently sued the Securities and Exchange Commission, seeking a declaration to preempt any claims that Ethereum is an unregistered security.
As Ripple prepares for the next phase, the fintech giant is teasing developments in its XRP Ledger ecosystem. Additionally, at the same conference, Ripple CTO David Schwartz discussed the upcoming Ripple stablecoin as well as innovations in automated market makers (AMM) and lending protocols.
The Ripple community is eagerly awaiting more details, which are expected to be revealed at the XRPL Apex event in Amsterdam.
Designed Ripple stablecoin The project, backed by US dollar deposits and short-term US Treasuries, is aimed at institutions unable to directly use digital assets but willing to mine the XRP ledger. According to UNL XRPL auditor Vet, the stablecoin could revolutionize institutional and decentralized finance by leveraging the functionality of a decentralized ledger exchange and automated market maker.
Read more: How to buy XRP coins? Step by step for digital currencies beginners
As Ripple continues to navigate regulatory controls and market dynamics, the launch of its stablecoin could represent a pivotal moment for the company. Additionally, this could foster new methods of growth and adoption within the XRP ledger.
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